A high yielding, income generating retail asset on the prime pitch of a south London pedestrianised high street, we purchased this asset as strategy focused on the changing nature of retail and our city centres.
Located just opposite the main shopping centre in the sub-marked, our investment comprised two fully-let retail units: a 14,000 sq ft WH Smith store, and a larger, 69,000 sq ft unit let to BHS.
These buildings were purchased for income and eventual repositioning, with a 10.5% net initial yield, a £100 per sq ft capital value, and a high cash-on-cash return. The adjacent Times Square Mall underwent a significant refurbishment by its owners, creating value for the location overall.
Following the exit of BHS from the high street, we quickly re-let the vacant space to H&M, creating a customised fitout for them and further improving the local community with a vibrant retail offer.